USDCAD is showing 5 swings down from 1.1195 peak with no RSI divergence which means sequence is incomplete. Therefore, we look for another low ideally to 1.1000 to complete 7 swings down from 1.1195 peak. Pair should see an upside reaction from the orange area (1.0965 – 1.1000) which can take it to new highs above 1.1195 or at least 3 waves up to 50 – 61.8 fib zone of the drop from 1.1195 peak.
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